E v e r y    P a r t    o f   L i f e,  T h r o u g h o u t   L i f e,   F o r   L i f e
FREQUENTLY ASKED QUESTIONS
LIFE INSURANCE  FREQUENTLY ASKED QUESTIONS

1. What is Life Insurance?
A life insurance policy is a contract with an insurance company. In exchange for premium payments, the insurance company provides a lump-sum payment, known as a death benefit, to beneficiaries upon the insured's death. Typically, life insurance is chosen based on the needs and goals of the owner.

2. Do I need a Life Insurance policy?
You need a life insurance policy if you have a child or family that rely on you financially.

3. What types of Life insurance policies are available?
Various life insurance policies are available depending on individual needs. Some policies are tailored for the member only, others for the entire family. Some policies provide for loan access, others assist in child education whilst some cater for funeral expenses.

4. How many Life Insurance policies can I have?
You can have multiple life insurance policies subject to your needs and financial capability.

5. What is sum assured?
The sum assured is the amount of money an insurance policy guarantees to pay up in the event of the insured event i.e. death, disability etc. 

6. How do I get life insurance cover?
You can get life insurance cover by getting in touch with Life Insurance companies directly or through their sales agents.

7. Can someone access a loan on their policies or can an individual policy be used as a security for loans?
Some life insurance policies allow access to loans on the policies. Some policies can also be ceded as security for a loan obtained elsewhere. Kindly get clarification from your insurer of their agent on which policy you can get to access loans or use as a collateral for a loan.

8. When can I claim?
You can claim upon maturity of life insurance policy or on occurrence of the insured event i.e. accident, disability or death.

9. How can I claim?
You need to fill the appropriate claim form and submit to your life insurer to process and provide benefits due under life insurance policy.

10. What do I do when my documents are lost, stolen or destroyed? 
When life insurance documents are lost, stolen or destroyed, you can request your insurer to provide a copy of the document. in order to do this you need to get a Lost Policy Affidavit filled at District Commissioner or lawyer office in attempt to get policy document replaced and submit it together with processing fee to the insurer who will gladly replace to document.

11. What is group life assurance?
This is Group Life Assurance is cover paid by the employer that provides death in- service benefits to the employee’s dependants or beneficiaries in the event of death of that employee whilst in employment. The benefit payable is equal to a multiple of a member’s annual salary as opted for by the employer. The chosen multiple depends on the employer’s affordability and other factors including conditions of services.

VANGUARD LIFE ASSURANCE
Head Office,
1st Floor, Zeka Office Park,
Robins Road,
P.O. Box 1625, BLANTYRE
Telephones
+265 (0) 1 832 216
+265 (0) 1 834 459 
Fax +265 (0) 1 823 506
Email:
vanguard@vanguardlifemw.com
Lilongwe Office
2nd Floor, Uplands House,
P/Bag B389, LILONGWE
Telephones
+265 (0) 1 755 374 
+265 (0) 1 755 377 
Fax +265 (0) 1 755 379
Email:
vanguardcapital@vanguardlifemw.com 
Mzuzu Office,
1st Floor, Mzuzu Shopping Mall,
P.O. BOX 575, MZUZU
Telephones
+265 (0) 1 311 880
+ 265 (0) 1 311 885 
Fax +265 (0) 1 311 885
Email:
mzuzu@vanguardlifemw.com 
Mangochi Sales Office, Ground Floor, MPC Building, Bakili Muluzi Highway,
P.O. Box 587, MANGOCHI
Telephones
+265 (0) 1 594 331
+265 (0) 1 594 332 
Fax +265 (0) 1 594 334
Email:
mangochi@vanguardlifemw.com
Every Part of Life, Throughout Life, For Life